Gold surges by Rs 700

Gold on Monday mounted by Rs 700 per tola to Rs 92300 on the local market, traders said. The yellow metal was now selling for Rs 79132 per 10 grams, up by Rs 600; and $ 1605 an ounce, up by $20 on the world market. Silver was for Rs 1000, Rs 857.33 per 10 grams; and $17 an ounce, they said.

Pakistan imported 4 percent or $351,000 of more gold to $10.068 million during July-January 2019-20 from $ 9.717 million during July-January 2018-19, Pakistan Bureau of Statistics says. Import volume of the metal is down by 3.23 percent or 8 kilograms to 240 kilograms in July-January 2019-20 from 248 kilograms in July-January 2018-19. Down by 7.13 percent or $ 69,000, the country imported $ 899,000 of gold comparing to the yellow metal import of $968,000 in January 2019.